Ernst and Young Names NuTech Solutions' CEO Finalist for Entrepreneur of the Year Award

Matthew Michalewicz Selected by Ernst and Young as a Finalist for Distinguished Honor

CHARLOTTE, N.C.-- May 23, 2003 -- NuTech Solutions, Inc., a premier provider of advanced predictive analytics and profit optimization software products for Global 1000 companies, announced today that its Chief Executive Officer, Matthew Michalewicz, has been chosen as a finalist for the 2003 Carolina's Ernst and Young Entrepreneur of the Year Award.

Last year, the Charlotte Business Journal named Matthew Michalewicz to Charlotte's "40 under 40" list of accomplished business leaders, and UNC-Charlotte honored Michalewicz with the 2002 "Young Alumnus of the Year" award. Recently, he was also named a finalist for the 2003 Charlotte Chamber Entrepreneur Award.

"I am pleased that Matthew Michalewicz's hard work to create shareholder value has been recognized by Ernst and Young," said Lech Walesa, former President of Poland, who serves on NuTech Solutions' Board of Directors. "I am particularly pleased with the steps that Matthew and NuTech have taken towards our shared vision of applying advanced computational technology to the solution of prediction, modeling and optimization problems faced by governments and companies alike throughout the world."

NuTech Solutions' other recent successes also include being named one of North Carolina's Top High-Tech Companies for 2003 by KPMG and Business North Carolina magazine. The list of 30 leading companies compiled by KPMG includes both public and private technology businesses in North Carolina. NuTech Solutions led the group in revenue growth by a large margin.

In addition to numerous Fortune 500 clients such as General Motors, Bank of America, Ford Motor Company and ChevronTexaco, NuTech Solutions' software is deployed at the U.S. Department of Defense, the U.S. Navy and the Polish National Air Force. The company holds more than 40 patents and patent applications, and boasts a scientific staff that includes more than 30 Ph.D's.

About NuTech Solutions, Inc.
NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing and retail industries as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech Solutions' products produce measurable increases in financial performance for its users. The company's client roster includes General Motors, Ford Motor Company, Bank of America, Siemens, BB&T, ChevronTexaco, BMW, Beiersdorf, U.S. Department of Defense, Honda, Air Liquide, Southwest Airlines, Proctor and Gamble, Boeing, Dupont, Safeway, Corning, Polish National Air Force, FujiTec, and Unilever. For more information about NuTech Solutions, visit www.nutechsolutions.com.

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				could differ materially from the expectations expressed in these forward-looking statements.

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